Is Blockchain really useful for the banking sector?

When it comes to exchanging information, and money, Blockchain offers a very high level of security.

Harvard Business Review claimed that blockchain would do to the banking sector what the internet did to media.

When it is about banking and financial institutions, blockchain has that potential to solve a lot of issues in the industry. Blockchain technology holds all the attractive characteristics needed by a reliable technology that involves money matters. It is cheaper, transparent, decentralised, safe and secure.

Also, it lets its users take advantage of the transparent network infrastructure along with low operational prices through decentralisation.

Such unique characteristics of blockchain technology make it reliable, promising and in-demand solution for the banking as well as the finance industry.

So, Why Use Blockchain for Banking Industry?

Reason #1

The existing banking systems are reliable on paper as well as the outworn process…